Bank account validation delivered with critical insights
Validate bank accounts and reveal critical insights on account stability, payment performance, and returns for increased assurance
![[Advancial Federal Credit Union]](https://validifi.com/wp-content/uploads/2024/06/Logo-Advancial-Credit-Union.png){kind=logo}
Ensuring compliance with Nacha’s WEB debit account validation rule is essential for mitigating risk and detecting potential fraud. A robust account validation service is crucial for adhering to regulations, providing a seamless customer experience, and reducing payment issues or returns.
vAccount+ expands on our vAccount, real-time bank account validation service, to reveal additional critical insights.
By unlocking additional data, vAccount+ provides you additional attributes and data sources for increased coverage as well as a deeper understanding of transaction patterns, account stability, and payment performance.
Utilizing our robust network of bank account and payment information, vAccount+ offers:
- Reduce ACH returns
- Better predict FPD (first payment defaults) risk
- Transact with greater confidence
![[bank account verification coverage]](https://validifi.com/wp-content/uploads/2024/06/vAccount-Plus-Insights-1.png)
Enhanced bank account validation with vAccount+
vAccount+ expands our account validation capabilities to reveal critical insights into:
- Rank order risk with Account Validation codes
- Bank account insights - longevity, recency, payment performance, and account association
- Financial institution insights - funds status, transfer status, ACH capability and more
The value for your business
Low Friction Solution
Quickly verify bank accounts prior to onboarding or making transactions.
Detect Fraud
Identify fraudulent accounts and reduce risk of payment failures and ACH returns.
Increased Confidence in Transactions
Additional insights to enhance account validation.
Related resources
Related products
vAccount™
Proprietary bank account validation solution to confirm a bank account is valid, open and ACH capable to ensure Nacha WEB debit compliance.
vConnect®
Pair with vInsights for an intuitive user login experience and consolidate vendors.
Frequently asked questions
vAccount™ is a bank account verification solution that leverages ValidiFI’s proprietary data to check bank account status. Confirm if an account is open, valid, and ACH capable prior to sending deposits.
vAccount+ layers in additional data elements and third-party providers for increased coverage and confidence in verifying bank accounts.
As a bank account verification solution, bank account and routing number are required fields.
R01 return code stands for “Insufficient Funds” – indicates there were not enough funds in the account to cover the payment.
R03 return code stands for “No Account/Unable to Locate Account” – this means the bank account number provided does not correspond to any open or active account.
R04 return code stands for “Invalid Account Number” – this means the account number provided is not valid due to being incorrect or not a valid account.
R20 return code stands for “Non-Transaction Account” – This means the account is a non-transaction account, such as a savings account that may not allow electronic debits or certain types of transactions.
By leveraging a third-party validation service, like ValidiFI, organizations can reduce ACH returns before onboarding or making a transaction.
vAccount+ validates a bank account to confirm it is open, valid, and ACH capable in order to identify risk and reduce ACH return codes.
Organizations leverage vAccount+ to reduce failed transactions and costly fees, ultimately improving the customer experience.
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